Review highlights need for guidance service

Thoresen Review calls for free national advice and guidance scheme that will prepare people to make financially sound decisions throughout their lives

The UK needs a free money guidance service funded by the Government and financial services industry, according to the final report of the Thoresen Review. This scheme, called Money Guidance, would dispense sales-free advice face to face, as well as by phone and internet, with the aim of giving people confidence to make sensible financial decisions. It would cover budgeting, saving and borrowing, insurance, tax and retirement planning and would help consumers decode the technical language frequently used in the financial services sector. However, it would stop short of recommending pro...